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Exosomes Market Size, Share & Trends Analysis Report By Product, By Application, By Workflow, By End-use And Segment Forecasts, 2023 - 2030
Exosomes Market Size, Share & Trends Analysis Report By Product (Kits & Reagents, Services), By Application (Cancer, CVD), By Workflow (Isolation Methods, Downstream Analysis), By End-use, And Segment Forecasts, 2023 - 2030.
New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Exosomes Market Size, Share & Trends Analysis Report By Product, By Application, By Workflow, By End-use And Segment Forecasts, 2023 - 2030" - https://www.reportlinker.com/p06423466/?utm_source=GNW
Exosomes Market Growth & Trends
The global exosomes market size is projected to reach USD 1.03 billion by 2030, registering a CAGR of 37.75% over the forecast period. The major factors driving the market include technological advancements in exosome isolation and analytical procedures, growth in government and non-government initiatives for exosome research, and the increasing prevalence of cancer. For instance, according to the World Health Organization (WHO), in 2020 there were about 10 million deaths due to cancer, making it one of the foremost causes of death worldwide. The industry is anticipated to witness rapid growth, owing to the factors, such as the growing need for the identification of cancer biomarkers, detection of infectious agents, and discovery of treatment options for neurodegenerative & Cardiovascular Diseases (CVDs).
Exosomes released by cells into body fluids display different RNA, protein, and lipid contents in patients with various disease conditions as compared to healthy individuals.Hence, exosomes can be used for the development of diagnostic procedures using biomarker identification.
The rising demand for fast, accurate, and minimally invasive diagnostic procedures, thus, represents a promising opportunity for the growth of exosome applications.The COVID-19 pandemic led to the disruption of clinical trials investigating the diagnostic and therapeutic potential of exosomes in 2020.
In addition, nationwide lockdown restrictions, disruption of supply chains, and diversion of investments toward COVID-19-related products led to a decrease in the research and development activities involving exosomes.
Despite the adverse impact in 2020, the pandemic has opened up several new prospects for the development of COVID-19 vaccines and treatments with the use of exosomes, which, in turn, is expected to boost industry growth over the coming years. For instance, in March 2021, Cell Guidance Systems, a U.S.-based biotechnology research organization, announced plans for the development of exosome therapeutics for treating COVID-19 disease. Moreover, growth in government and non-government initiatives for exosome research is likely to drive the growth during the study period. For instance, in Jan 2023, Mantra Bio raised funding of USD 9 million to advance the development of its lead-targeted exosome therapeutics program.
Similarly, in February 2021, Evox Therapeutics raised a funding of USD 95.18 million to advance the exosome therapeutics and expand the company’s leading exome platform DeliverEX globally. However, stringent regulations pertaining to the approval and commercialization of exosome products may hamper the growth of the industry over the forecast period. In addition, technical difficulties associated with the implementation of exosomes in various applications may hamper the growth during the study period. Some of the major challenges include the lack of efficient transfection strategies and the need for optimization of purification methods. Such, challenges are anticipated to impede the market growth.
Exosomes Market Report Highlights
• The kits & reagents segment held the largest revenue share in 2022. Isolation of extracellular vesicles can be difficult, non-specific, and a tedious process. Hence, key players are launching innovative kits and reagents to broaden the applications of exosomes, which is fueling the segment growth
• By workflow, the downstream analysis segment accounted for the largest share in 2022. Major players are offering various technologically advanced products for increasing the utility of downstream analyses, which can positively affect the segment growth
• The cancer application segment dominated the market in 2022 due to the broad range of applications of exosomes in cancer diagnosis, prognosis, and treatment
• The pharmaceutical & biotechnology companies end-use led industry in 2022 due to a rise in the R&D activities
• North America was the dominant region in 2022 due to the presence of key players, rising government funding for the detection of new biomarkers, and high incidence of chronic conditions
Read the full report: https://www.reportlinker.com/p06423466/?utm_source=GNW
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